If you've landed on this article you're probably wondering how to buy crypto with Binance. The process is extremely simple. It all begins with a cash deposit and ends with you acquiring the cryptocurrency you like. We will use this demonstration to display the two possible ways to trade crypto on Binance. Market trade (also known as Binance's convert), and spot trading. Each method has its own advantages and disadvantages and thus can be used by different people under different circumstances. The main utilization of Binance's convert is the quick and easily accessible interface. Spot trading, on the other hand, is not as intuitive and easy to understand. Yet it remains an indispensable tool for all crypto traders.

First thing’s first: to buy crypto sign up for a Binance account. It’s completely free to register, although you will need to verify your identity via photo ID and by confirming your address.

Once you’ve got your account set up: you’ll need to fund your account with your preferred fiat currency. You can do the following by selecting "Deposit" -> "Fiat", selecting your currency, and initiating a bank transfer (or preferred payment method).

Buy Crypto: Binance Convert vs Spot Trading

Binance offers two main ways to trade crypto, binance convert, or spot trading. We will quickly outline the benefits of using either/each method and the disadvantages.

Enough jibber jabber, let's get down to business.

Binance Convert

The Binance convert option is extremely simple to use. For that reason, it is the perfect tool for anyone who is just getting started with cryptocurrency.

To trade, select "Trade" -> "Simple (Balance)", then on the top select your preferred fiat currency, and on the bottom select the cryptocurrency you wish to purchase. Similarly, to select an amount, simply type in the amount in the top field. Lastly, press swap to buy your crypto.

If you wish to DCA (recommended when getting started with bitcoin), you can set up a recurring buy. To do this, simply select the recurring buy button. This will allow you to simply create a recurring order. To use this feature, first, select your desired assets at the top. Then, insert an amount in the "Amount" field. Thirdly, select your repeat schedule. You have a variety of choices from daily orders, weekly orders, or even monthly orders. Lastly, to confirm the order, simply select the confirm button. That's it! Congratulations on buying your first bitcoin with Binance!

Binance Spot Trading

If you would like to have more data on certain cryptocurrencies, such as their market capitalization and trading volume, etc. Spot Trading is the way to go! To use the spot trading feature of Binance, make sure you've enabled advanced trading on your profile if you're using a mobile device. Otherwise, simply click the cryptocurrency you wish to trade on the Binance Homepage. Alternatively, you can select "Trade"->"Advanced Spot" and search by name.

You can now place an order at the price you wish to have by either selecting the price field on the right or left depending on if you would like to buy or sell, typing in the amount, and pressing buy/sell. Congratulations, you've officially managed to buy crypto with Binance!

Final Disclaimer

When interacting with centralized exchanges, resh does not recommend keeping unnecessary funds on it. Remember, not your keys, not your coins. The recent FTX debacle has recently outlined the severity of this statement. And this was not the first time, you can also check out "Mt. Gox" for another example. Or even "QuadrigaCX". The list is long. Therefore, we also recommend you to DYOR, for this type of platform you can start by looking at their proof of reserves. As always, if you have anything to share or add, feel free to drop a comment. Resh out!